When asked how things are going in China, a country known for its knock-off products, Gelfond said the Chinese love brands, and the Imax brand has yet to be replicated in China. He said the Chinese recognize the quality of the Imax brand and don't seem to want to settle for lesser-quality offerings. Turning to this season's movie lineup, Cramer asked whether Imax should be considered as a hit-driven business. Gelfond said this is a common misconception; in reality, Imax's revenue per screen has been pretty constant at $1.2 million, no matter how many blockbuster films are expected each year. He said Imax is now playing re-releases including "Titanic" and "The Wizard of Oz" to turnouts as large as for the newest releases. Cramer said that with consumers tiring of "regular" movies, Imax remains a cut above.
For "Speculation Friday," Cramer honed in on Jazz Pharmaceuticals ( JAZZ) a small biotech stock that has roared recently but may be ready to run even higher. Cramer said Jazz currently sells for just nine times earnings despite its 16% growth rate. Given an average biotech multiple, he feels the stock could rally another 25% from current levels. But there's a dark cloud hanging over Jazz, said Cramer, and that's the threat of generic competition. Despite having patents for its key drug, Xyrem, running through 2019, another company is actively developing a competing generic alternative. While Jazz has already sued to stop development, the company risks losing 50% of its revenue if the outcome of that case does not go its way. Cramer said he's not worried about Jazz' legal woes because he feels the case should be a slam dunk, especially since the company is developing a new formulation of Xyrem that could extend patents even beyond 2019. He said the company's drug pipeline, which includes promising oncology and psychiatric drugs, will make Jazz more than a one-hit wonder by the time its Xyrem patents do finally expire. Given the stock's big run, Cramer reminded viewers that all of the usual speculative caveats apply -- wait for a pullback, use limit orders and don't pay up for shares.
In the Lightning Round, Cramer was bullish on American Electric Power ( AEP), CVR Refining ( CVRR), TransCanada ( TRP), Ruth's Chris Steakhouse ( RUTH), Darden Restaurants ( DRI), Kimberly-Clark ( KMB) and Aqua America ( WTR). Cramer was bearish on Southern Company ( SO), Clean Harbors ( CLH), Hudson City Bancorp ( HCBK) and Nuverra Environmental Solutions ( NES).
In the "Mad Mail" viewer feedback segment, Cramer followed up on Chuy's Holdings ( CHUY), saying that at 42 times earrings, the stock has become too rich to consider. He was also bearish on Nextera Energy ( NEE), saying that the utilities have fallen out of favor and he prefers Duke Energy ( DUK) or ConEd ( ED). Cramer was more upbeat on Infinera ( INFN), saying that investors could buy some now, but should wait for a pullback to complete their positions. He was also bullish on Waste Management ( WM), saying that investors are selling on news that the company may not be allowed to turn itself into a REIT, but he's still buying it for his charitable trust, Action Alerts PLUS . Cramer was also buying Facebook ( FB) for Action Alerts PLUS, even though he admitted that while Facebook is doing great as a company, it's pretty bad as a stock. Finally, when asked whether he'd bet on Las Vegas Sands ( LVS) or the Phillies baseball team, Cramer said he'd go with Las Vegas Sands at this point in the season.
No Huddle Offense
In his "No Huddle Offense" segment, Cramer told viewers that if the market's rally is to continue, we'll need to keep an eye on six macro themes. First, interest rates need to stabilize after their quick jump upwards. Second, we need to see better data from Europe as well as, third, better data from China. The markets will also need to see stronger retail sales numbers to counter the weaker numbers posted this week. Finally, Cramer said the markets need to see a rise in commodity prices, which have plummeted on fears of weaker global demand, and the leadership groups like tech and aerospace to return to their leading roles. Cramer said for the markets to take out their recent highs, all six of these momentum themes need to be heading in the right direction. To watch replays of Cramer's video segments, visit the Mad Money page on CNBC. -- Written by Scott Rutt in Washington, D.C. To email Scott about this article, click here: Scott Rutt Follow Scott on Twitter @ScottRutt or get updates on Facebook, ScottRuttDC